CEWE Stiftung & Co. KGaA — Earnings Release 2002

Aug 1, 2002

News Details

Ad-hoc | 1 August 2002 08:33

CeWe Color Holding AG english

CeWe Color Holding AG Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– CeWe Color Holding AG announces its preliminary business figures for the I. – II. quarters of 2002: – Growth in volume (prints): 1.9 % – Growth in sales: 0.9 % – Profit before tax (EBT): Euro 6.7 million (+ 20 %) Slight growth Oldenburg, 01.08.2002 – CeWe Color Holding AG (SDAX; ISDN DE 0005403901, share certificate numbers 540 390, 540 392 and 540 395) – the largest independent photofinisher in Europe – was able to generate a slight growth for the first six months of 2002, despite a declining trend on the market. For the first six months of the year, in spite of general consumer caution and a decline in the number of bookings in the tourism sector, CeWe Color generated a 1.9 % growth in volume, to a total of 1.52 billion prints (2001: 1.49 billion prints) and increased the number of film rolls by 1.4 % to 43.0 million (2002: 42.4 million), as well as achieving an increase in sales of 0.9 % to Euro 199.0 million (2001: Euro 197.3 million). Positive result Despite a downturn in the economy and the fact that we received no backing from tourism in the first six months of 2002, we were fortunately able to achieve a positive profit before tax (EBT) amounting to Euro 6.7 million. This figure exceeds that of the same period in 2001 (Euro 5.6 million) by 20 %. Cash flow fell by 8.1 %, from Euro 20.1 million to Euro 18.5 million. Marked increase in the proportion of digital products in the sales figures Sales figures for digital products rose by approximately 120 %. While the proportion of digital products in sales figures for the first six months of 2001 was still at 1.4 %, digital products accounted for 3.2 % of total sales in the first half of 2002. The target for December 2002 is a proportion of as much as 5 %, and for 2005 a turnover proportion of 15 % for digital products is being projected. It is the holiday months that largely determine the net result for the year In the field of photofinishing it is the holiday months from July to September that largely determine net profit for the year. Only after the season will it be possible to make a reliable forecast of the result for 2002. Corporate planning for 2002 schedules a turnover of approximately Euro 450 million and profits before tax (EBT) of Euro 25 million. CeWe Color enters the final six months of the year internally reinforced Dr. Rolf Hollander, Chairman of the Board of Management of CeWe Color Holding AG, is optimistic about the second half of the year: “Even if an unsatisfactory development in the tourism sector is currently limiting our growth, we have greatly enhanced our operational and cost structure through the construction of our operations in Prague, Budapest and Kozle as well as the closure of the plants in Hamburg, Ulm, Lourdes and Warsaw. In addition, new digital products provided us with increased margins at a new price level. We have prepared ourselves well and look with confidence towards the final six months of the year.” Should you have any queries, please contact: CeWe Color Holding AG, Hella Meyer, Tel.: 0441 / 404 – 400 , Fax: – 421 E-mail: hella.meyer@cewecolor.de, Internet: http//www.cewecolor.de end of ad-hoc-announcement (c)DGAP 01.08.2002 ——————————————————————————– WKN: 540390; ISIN: DE0005403901; Index: SDax Listed: Geregelter Markt in Bremen und Frankfurt (SMAX); Freiverkehr in Berlin, Düsseldorf, Hamburg und Stuttgart 010833 Aug 02